28 December 2023

End of Year Greetings

With just a few days left in 2023, I’d like to take this opportunity to express my deepest gratitude to everyone who supported the Company and cooperated with us in what has been a turbulent year.

This year the Sumitomo Electric Group started the Mid-term Management Plan 2025, which runs until the end of fiscal year 2025 and emphasizes the public’s well-being. As the middle period of this three-year plan, next year will be pivotal to clarifying our path toward multi-stakeholder capitalism, a key concept in the plan that denotes the mutual prosperity of five major stakeholders: customers, suppliers, employees, regional communities, and investors.

There is an old merchant’s saying in Japanese called “sanpou yoshi” that captures the spirit of all three parties (buyer, seller, and the public) doing well. Multi-stakeholder capitalism expands this notion in five directions instead of three, and by putting this newer concept into practice we believe the Company can contribute to the betterment of society.

My sincere wishes to everyone for good health and prosperity in the year ahead. We look forward to working together again in 2024.

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